However, getting to that stage can be daunting from working out where to open your business to reading through leasing documents.
Realmark Retail Sales and LeasingDirector Michael Richardson said the first thing prospective business owners should look for was a premises already set up for operation.
“If you’re a new business coming in and there’s a good existing fit-out in there that you can utilise, that would be a way to save on start-up costs, to begin with,” he said. “The banks really don't like to lend against fixtures and fittings, so if you can find little ways where you can save money that would be key when starting out.”
For retail specifically, Mr Richardson recommended new business owners read through the commercial Tenancy (Retail Shops) Agreements Act to understand their rights.
“This act has been put in place to protect the little guy," he said. "It’s not for the multinationals, it’s really there for people starting off when they’re first going in to lease a shop.
“What people really have to be aware of is the difference between what is the landlords responsibility and what is the lessee’s responsibility.
“In terms of the works and the maintenance for instance, often you’ll have to maintain the air-conditioning unit, but if it needs to be replaced, that has to be done by the landlord.”
Mr Richardson said it was also important to go over the strata document for the premises and check what was classified as a common area.
“A common mistake people make is believing that a certain licensed area is actually part of their lease, but it will likely be part of the common area,” he said.
When choosing which locations to look at, it is important to understand the needs of your business.
“If your business needs high foot traffic, you should find yourself an area like Mount Lawleyor Leederville,” Mr Richardson said.
“If your business can sustain and be a driver in its own right and drive traffic you should be looking at areas that are probably less high profile which will also be a lower price rental.
“At the moment, looking at the areas that are coming back, especially in the retail sector, Leederville’s just about to boom, Mount Lawley’s going through a great patch and Claremont's found its feet.
“We’re going back to where a lot of the traditional areas that we saw as being the key locations 15 years ago are becoming that again.”
Mr Richardson said any prospective business owners should always make sure they go in with a reserve fund in place.
“Don’t spend all your money on a fit-out or a bank guarantee and have none left over, because there may be a problem or the business may take a little bit longer to get off the ground.
“You’ve got to make sure you have enough cash reserves to be able to afford a rainy day.”